Raymond James Financial Inc. Takes Position in MGIC Investment Co. (NYSE:MTG)

Raymond James Financial Inc. purchased a new stake in MGIC Investment Co. (NYSE:MTG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 73,377 shares of the insurance provider's stock, valued at approximately $1,740,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in shares of MGIC Investment by 131.9% in the fourth quarter. UMB Bank n.a. now owns 1,649 shares of the insurance provider's stock worth $39,000 after purchasing an additional 938 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of MGIC Investment by 102.1% in the 4th quarter. Venturi Wealth Management LLC now owns 1,817 shares of the insurance provider's stock valued at $43,000 after buying an additional 918 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of MGIC Investment by 61.9% during the fourth quarter. V Square Quantitative Management LLC now owns 2,077 shares of the insurance provider's stock worth $49,000 after acquiring an additional 794 shares during the last quarter. Savant Capital LLC lifted its stake in shares of MGIC Investment by 11.8% in the fourth quarter. Savant Capital LLC now owns 8,857 shares of the insurance provider's stock worth $210,000 after acquiring an additional 933 shares during the period. Finally, US Bancorp DE boosted its holdings in MGIC Investment by 6.2% in the fourth quarter. US Bancorp DE now owns 10,249 shares of the insurance provider's stock valued at $243,000 after acquiring an additional 600 shares during the last quarter. 95.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MTG shares. Compass Point restated a "neutral" rating and issued a $27.00 price target (up previously from $24.00) on shares of MGIC Investment in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods cut their price target on shares of MGIC Investment from $29.00 to $28.00 and set a "market perform" rating on the stock in a research report on Wednesday, January 8th. UBS Group increased their price target on MGIC Investment from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, February 19th. Barclays boosted their price objective on MGIC Investment from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Finally, Bank of America downgraded MGIC Investment from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $26.00 to $25.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, MGIC Investment presently has a consensus rating of "Hold" and a consensus price target of $26.75.

MGIC Investment Stock Down 5.1 %

NYSE:MTG traded down $1.23 on Friday, hitting $23.09. The stock had a trading volume of 3,169,312 shares, compared to its average volume of 1,784,531. The company has a quick ratio of 1.25, a current ratio of 0.48 and a debt-to-equity ratio of 0.12. MGIC Investment Co. has a 52 week low of $19.26 and a 52 week high of $26.56. The business's fifty day moving average is $24.33 and its 200 day moving average is $24.65. The company has a market cap of $5.60 billion, a PE ratio of 7.96 and a beta of 1.28.

MGIC Investment (NYSE:MTG - Get Free Report) last issued its earnings results on Monday, February 3rd. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.07. MGIC Investment had a return on equity of 14.86% and a net margin of 63.18%. On average, equities research analysts expect that MGIC Investment Co. will post 2.71 EPS for the current fiscal year.

MGIC Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Tuesday, February 18th. MGIC Investment's dividend payout ratio is currently 17.93%.

Insider Transactions at MGIC Investment

In other MGIC Investment news, CAO Julie K. Sperber sold 4,600 shares of MGIC Investment stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $24.55, for a total transaction of $112,930.00. Following the completion of the transaction, the chief accounting officer now owns 75,070 shares in the company, valued at approximately $1,842,968.50. The trade was a 5.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.05% of the stock is currently owned by insiders.

MGIC Investment Company Profile

MGIC Investment Corporation, through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services to lenders and government sponsored entities in the United States, the District of Columbia, Puerto Rico, and Guam. The company offers primary mortgage insurance that provides mortgage default protection on individual loans, as well as covers unpaid loan principal, delinquent interest, and various expenses associated with the default and subsequent foreclosure.